Lowe's, Home Depot shares rise as Telsey upgrades on strong growth prospects [Yahoo! Finance]
Lowe's Companies, Inc. (LOW)
Last lowe's companies, inc. earnings: 2/26 06:00 am
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Source: Yahoo! Finance
The upgrades signal a promising outlook for the two leading home improvement giants, which had faced recent headwinds due to macroeconomic challenges, including higher interest rates and a cooling housing market. For Home Depot, Telsey raised its price target to $455 from $360 and upgraded its rating to ‘outperform' from ‘market perform'. Similarly, Lowe's saw its price target climb to $305 from $275, with its rating also moved to ‘outperform.' As per Telsey analysts, the revisions were driven by a combination of favorable factors expected to boost consumer spending in the coming months. These include a recent 25-basis-point cut in the Federal Reserve's interest rates, the second such cut this year, which is anticipated to encourage home improvement investments, traditionally sensitive to borrowing costs. Another critical factor contributing to the optimism is the expected tailwinds from hurricane recovery efforts. Both companies stand to benefit from increased demand for
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Earnings
- 8/20/24 - Beat
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- 10/3/24 - Form 144
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